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Often, numerous classes of transactions affect the ending balance of a particular general ledger ...

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Often, numerous classes of transactions affect the ending balance of a particular general ledger ...

Often, numerous classes of transactions affect the ending balance of a particular general ledger account. This is handled during the audit engagement by
A) ensuring that tests are conducted for each class of transactions.
B) obtaining a high level of assurance for at least one of the transaction types.
C) using a combination of assurance for each class of transactions and for the ending balance.
D) testing only the ending balance, as this is the significant amount on the financial statements.

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Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)

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